Eliminates general purpose, supplemental and mansion realty transfer fees.

New Jersey Assembly Bill A3405 eliminates three property transfer fees: the general purpose fee (applied to non-exempt sales over $350,000), the supplemental fee (added to most sales), and the "mansion" fee (1% on homes over $1 million). This bill directly affects home buyers and sellers in New Jersey by removing these costs from property transactions. The fees, which were calculated as percentages of property value, added significant expenses - such as $6,775 for a $750,000 home - compared to pre-2003 costs. The legislation repeals specific sections of New Jersey law that established these fees, reducing transaction costs for property transfers.